Realty Biz

JULY 7, 2021

If the appraisal doesn’t support the higher offer, you can probably still get the mortgage you are preapproved for, but you’ll need to pay cash for the difference between the appraised value and what you offered above the appraised value. Contingencies are specific conditions that must be met before the sale can be completed.

Inspection contingency 94

Inspection contingency Marketing Inspection Rent back 94

HomeLight

AUGUST 31, 2021

Ever since the 2008-2009 recession, cash offers have become more prevalent, accounting for 33% of sales as of 2021 — that’s up from 20% in 2019. Cash buyers have the option of taking these same steps for appraisals and inspections, but they aren’t required to so to appease a lender. The appraisal. Updated August 31, 2021.

Due diligence 76

Due diligence Inspection Pre-approval Pre-qualification 76

RIS Media

JULY 8, 2021

For best results, host a training class or have a sales meeting discussion to review the following six buyer strategies designed to provide the highest value and achieve their buyer’s objectives for purchasing a home: Over-communicate how to compete as a buyer in today’s market. Be relentless and resourceful.

Marketing 102

Marketing MLS Agents Rent back 102

Redfin

JULY 28, 2020

Winning offers waived the appraisal contingency at a similar rate—20.6%—up The appraisal contingency allows the buyer to cancel a deal or renegotiate the price if the appraisal comes back lower than a specified amount. Active listings—the count of all homes that were for sale at any time during a given month— dropped 20.7%

Inspection contingency 59

Inspection contingency Inspection Purchase and sale agreement Pre-approval 59

HomeLight

APRIL 27, 2022

You’ll get the estimated value of your home, the relevant parts of a comparative market analysis, a list of top local real estate agents, and an estimate on a cash offer through HomeLight’s Simple Sale platform. The best way to ensure that you’re setting the best price for your house sale is to work with a top agent.

Renovation 98

Renovation Agents Sales Rent back 98

HomeLight

APRIL 29, 2021

The home sale process involves a long list of steps, and your execution of each impacts your final sale price. As with most things in life, preparation is the key to a successful home sale. With 24 years of experience under his belt, Thompson shared a few gems about navigating the home sale journey. Open escrow.

Purchase and sale agreement 94

Purchase and sale agreement Pre-approval Inspection Inspection contingency 94

Real Trends

JULY 15, 2022

The situation in today’s housing market is consistent with that of the previous two years: a lower inventory of houses available for sale than the demand. That said, although houses are still selling, sales have definitely cooled in some areas. Outside forces can have a huge impact on housing sales. Access to Data.

Loan Officer 52

Loan Officer Agents Rent back Finance 52

Redfin

FEBRUARY 2, 2021

A seller’s market is when there are more homebuyers in a particular area looking to purchase a home than actual houses listed for sale. If you pay in cash the sale can also happen quickly and, overall, lead to a smoother home sale. What is a Seller’s Market? However, even if the U.S. 5) Put More Earnest Money Down.

Pre-approval 65

Pre-approval Purchase and sale agreement Marketing Inspection contingency 65

HomeLight

OCTOBER 1, 2020

But after the appraisal, the tides have turned — the price initially seemed right, but the appraiser doesn’t feel the same way. Do you know how to negotiate with a seller after a low appraisal? A low appraisal presents an opportunity for you to negotiate with the seller. Figure out why the appraisal is low.

Purchase and sale agreement 85

Purchase and sale agreement Short sale Rent back Sales 85

Redfin

MAY 7, 2021

In a seller’s market, you may be tempted to put an offer on a home that’s contingent on the sale of your current home. You can also consider requesting a rent-back agreement from potential homebuyers. A rent-back agreement means that the homebuyer purchases your home and you rent it from them for a specified period of time.

Purchase and sale agreement 79

Purchase and sale agreement Marketing Equity Loans 79

HomeLight

MARCH 20, 2023

That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. Most often, this type of scenario calls for a home sale contingency. Find a Buyer's Agent What is a home sale contingency? Thus, the purchase agreement is “contingent” on the sale of the buyer’s existing home.

Home sale contingency 90

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 90

HomeLight

APRIL 17, 2024

Alternatively, HomeLight can provide an all-cash offer to purchase your home through our Simple Sale platform. But their differences could make a difference in the success — and profits — of your home sale depending on your selling and moving objectives. When you sell, they deduct the costs from your sale proceeds.

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Seller concession Inspection Rent back Closing 92

HomeLight

JUNE 30, 2021

This is why many buyers make offers on their new home that include a sales contingency. With a sales contingency in your offer, you won’t have to close on your new home unless you’ve sold your old home. But a sales contingency could also make it harder to get an offer accepted. Source: (LinkedIn Sales Solutions / Unsplash).

Rent back 104

Rent back Inspection contingency Earnest money deposit Finance 104

HomeLight

JANUARY 4, 2022

While that still happens in scenarios where a seller can’t afford repairs or is facing serious issues with a property, cash sales have expanded beyond the distressed homes market, as sellers benefit from new technologies, instant sale platforms , and a competitive housing environment that has increased the percentage of cash offers.

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Investor Finance Inspection Sales 98

HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. of the purchase price or appraised value, and borrowers must meet certain income limits, owner-occupy the property, and are required to complete homebuyer education counseling. Loans are between 3%-3.5%

Closing 92

Closing Earnest money deposit Sales Inspection 92

HomeLight

MAY 24, 2021

Home sales have skyrocketed, and home inventory is historically low. Ask your agent specifically about list-to-sales-price for those comps — how much the house was listed for and how much it actually sold for in the end. Be prepared for a possible low appraisal. You see a house you love, and it’s listed at $300,000. Not so fast.

Pre-qualification 104

Pre-qualification Pre-approval Purchase and sale agreement Loans 104

HomeLight

FEBRUARY 4, 2022

Source: (LinkedIn Sales Solutions / Unsplash). Coordinate with the closing attorney and seller’s agent to finalize the sale. … Unless you’re a real estate investor who deals with dozens of home sales every year, it’s going to be very difficult to learn as much about real estate as your agent already knows. And lots more!

Agents 93

Agents Purchase and sale agreement Due diligence Inspection 93

HomeLight

NOVEMBER 10, 2021

They’ll know whether offering a rent-back period could sweeten the deal, or if it’s more common to pay seller closing costs. Many automated valuation models lag actual sales data and could be outdated. You’re getting a feel for the market, and that quick sale just told you it’s probably a good area. When it’s a bad idea.

Inspection 86

Inspection Title Pre-approval Agents 86

HomeLight

JANUARY 7, 2022

So, instead of stressing your way through two sales, you can set yourself up for success and have your bags packed for your new home in no time. They’ll also introduce you to options, such as a bridge loan or home equity line of credit, to assist in your sale if needed. Do you have a limited amount of time to complete both sales?

Equity 104

Equity Loans Debt-to-income ratio Closing 104

HomeLight

JULY 29, 2022

Our Home Value Estimator tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. They’re not offering over [asking price] and they’re not waiving appraisals.”. Transition via rent back. Get Estimate.

Debt-to-income ratio 109

Debt-to-income ratio Loans Rent back Equity 109

HomeLight

FEBRUARY 28, 2022

“The logistics include timing the purchase and the sale, negotiating with both sides on moving or possession dates, and organizing belongings to get ready for the move,” said Mike Qui, owner of Good as Sold Home Buyers. Juggling the sale of one home and the purchase of another can be stressful even under the best of circumstances.

Equity 119

Equity Debt-to-income ratio Closing Loans 119

HomeLight

JANUARY 28, 2022

Not only do they guarantee a cash sale, but they also extend a no-obligation offer and will close on the sale within 30 days. A quick sale is a big plus to working with these buyers, but that sale could cost you in the long run. Need a quick sale? The We Buy Ugly Houses franchise model became available in 1996.

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Purchase and sale agreement Investor Agents Sales 107

Realtor.com

OCTOBER 29, 2020

If something is wrong, you can request that it be fixed—or you can back out of the sale. Appraisal contingency: With this contingency, a third party hired by your mortgage lender evaluates the fair market value of the home. Most sales contracts allow buyers to do a walk-through of the home within 24 hours before closing.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

APRIL 21, 2022

After listing your home for sale, you eagerly, nervously … anxiously await the news that someone wants to buy it. Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. Eventually, the call comes.

Inspection contingency 106

Inspection contingency Home sale contingency Pre-approval Agents 106

HomeLight

MARCH 28, 2022

Simple Sale provides cash offers for homes nationwide for when a traditional listing doesn’t work. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Stressed About a Quick Job Move? Get Estimate.

Purchase and sale agreement 112

Purchase and sale agreement Equity Agents Staging 112

HomeLight

AUGUST 17, 2022

Asking the other agent how many offers they have, if there’s anything that might help with the offer — such as a particular closing date or a rent-back situation — I think you have to be a very creative agent right now. They want way more than what the market pulls — I’m fighting appraisals with almost every property.

Mortgages 79

Mortgages Rent back Fixed-rate mortgage Banks 79

HomeLight

SEPTEMBER 11, 2020

Your offer will be stronger if you build in some wiggle room relating to factors that might seriously entice the seller to pick you: Can you offer rent-back? No sales contingency? Make sure your agent stresses that your offer doesn’t contain a sales contingency. A bigger down payment?

Earnest money deposit 81

Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 81

HomeLight

OCTOBER 5, 2020

But then again, with some new listings, if the price, location, and condition are right, the sale kind of is like an auction, isn’t it? Things like waiving repairs, waiving the appraisal contingency. ” But as long as it appraises at the list price of 439, if for some reason it doesn’t appraise at our high number.

Agents 76

Agents Backup offer Inspection Closing 76

HomeLight

MARCH 15, 2021

But then again, with some new listings, if the price, location, and condition are right, the sale kind of is like an auction, isn’t it? Things like waiving repairs, waiving the appraisal contingency. ” But as long as it appraises at the list price of 439, if for some reason it doesn’t appraise at our high number.

Agents 79

Agents Backup offer Inspection Closing 79

HomeLight

MARCH 22, 2021

That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. Price matters but, like, we’ve actually had a sale fail, so, like, these guys just want someone who’s sure and they wanted to close.” I’ve gonna give them free rent back.

Agents 72

Agents Inspection Inspection contingency Pre-approval 72

HomeLight

OCTOBER 12, 2020

That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. Price matters but, like, we’ve actually had a sale fail, so, like, these guys just want someone who’s sure and they wanted to close.” I’ve gonna give them free rent back.

Agents 98

Agents Inspection Inspection contingency Pre-approval 98

Realty Biz

MAY 16, 2022

With so few homes for sale, buyers are fighting over each property that hits the market. Waive The House Appraisal. When prices are going so far over asking there is bound to be appraisal issues. One of the reasons a cash offer is so appealing is because a seller doesn’t have to worry about appraisal issues.

Earnest money deposit 97

Earnest money deposit Purchase and sale agreement Rent back Inspection 97

HomeLight

DECEMBER 15, 2022

They may already be feeling emotional about selling a childhood home , or there could be disputes about the sale proceeds. Pre-foreclosure or short sale transactions. Someone facing a foreclosure or who has negotiated a short sale with their lender could have a very negative reaction. Again, emotions may be high.

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Inspection Closing Rent back Agents 88